YOUR BUSINESS AUTHORITY

Springfield, MO

Springfield mortgages at risk of default decline

Posted online

Springfield home owners are less likely to default on their mortgages than they were a year ago, according to real estate market tracking firm CoreLogic.

The Queen City’s mortgage delinquency rate — representing loans that are at least 30 days past due — dropped to 3.3 percent in July from 4 percent a year earlier, according to the latest data available.

The foreclosure inventory rate measuring mortgages in some stage of the foreclosure process was 0.2 percent for Springfield during July. That’s a dip from 0.4 percent a year earlier.

Missouri’s serious delinquency rate in July dropped to 1.5 percent from 2 percent a year earlier, while the national rate improved to 1.9 percent from 2.5 percent, according to a news release.

"Even though delinquency rates are lower in most markets compared with a year ago, there are some worrying trends," said Frank Martell, president and CEO of CoreLogic, in the release. "For example, markets affected by the decline in oil production or anemic job creation have seen an increase in defaults.”

The Show-Me State’s July foreclosure rate declined to 0.3 percent from 0.5 percent a year earlier. The U.S. rate was 0.7 percent in July, down from 0.9 percent, according to CoreLogic.

Comments

No comments on this story |
Please log in to add your comment
Editors' Pick

Bankruptcy court: Creditor taking over JQH assets

Former investor Jonathan Eilian’s J.D. Holdings plans to buy at least 35 properties through a landmark bankruptcy settlement.

Most Read
What is the top priority among these road projects in the city’s capital improvements program?

View results

SBJ Live logo
MOST-WATCHED VIDEOS
Booked - Go Back to the Basics

“You’ve gotta go back to the basics,” says Larry Peterson, Executive Director, Habitat for Humanity of Springfield Missouri. Peterson says he gains leadership advice from General Ulysses S. …

App-titude - Due - A Simple To Do List Are your having trouble keeping track of everything on your to-do list? Due is an iOS app that helps you keep track of all your errands. “It essentially does just one thing — it keeps a due date …
Three Tips to Build Employee Buy In “First and foremost if you have any kind of idea that you want to bring forward, it has to be data driven,” says Kelly Lee, Business Program Manager on the Infrastructure Team at Facebook. Lee …
My Mentor - Career Guidance “I’ve had a couple [mentors], but probably a career mentor is David Agee. He’s been there since the day I started,” says Amanda Tummons with Husch Blackwell, one of Springfield Business …
Beyond the Spotlight - Brain Balance “They liked this and they thought it was important, but they couldn’t see — how do I actually make this into a business? How do I bring this into my business?” Robert Melillo, founder of …